Hmm ...it's hard to see much legitimacy to Coronet's retaining our US$3.75 million. The sale of Golden Eagle Resources SAC (the owner of the Paron Gold Project mining concessions located in Peru) was completed in good faith some time ago. I guess tough times bring out the piratical element.
It was only a quirk of fate that had the Peruvian Income Tax Act change when it did, requiring a ruling ...and Coronet has essentially only been holding those funds in trust for Latin since then.
The fact the tax ruling is through at last is a major positive, in my view. The money is unequivocally ours and WILL undoubtedly be handed over in due course.
Meanwhile, it's naturally in Latin's interest to see those other milestone-linked considerations come to fruition too, hence our willingness to help Coronet in overcoming its post closing issues.
However, surely no-one can place much credence on Coronet's "attempting to renegotiate" the terms of essentially closed Agreements with Latin.
LAT Price at posting:
2.7¢ Sentiment: Buy Disclosure: Held
